coronavirus

Room rates drop as Thailand’s hotels feel the Covid pinch

The ongoing tourism slowdown has led several hotels to reduce the price tag on their property by more than usual, says Destination Capital, part of Destination Group. The difference between the coronavirus crisis and the 1997 financial crisis is revenue dried up during the outbreak without visitors and had to close temporarily, but still had to bear operation costs, said James Kaplan, chief executive...

Bangkok serviced apartment market stays steady despite greater competition

The Bangkok serviced apartment market remains stable even with these units facing greater competition for condo units. Several prominent Thai developers, including Sansiri and Ananda, have entered the Bangkok serviced apartment market in recent years as they look for ways to increase revenue and create sustainable passive income. However, the future of the segment is now cloudy. According to Colliers...

tallest skyscraper in Bangkok

Thailand’s richest man is building Bangkok’s tallest skyscraper

Thailand’s richest man wants to set another record. Billionaire Charoen Sirivadhanabhakdi, via his recently listed property unit Asset World Corp, has his sights on building the nation’s tallest skyscraper. Details are scant -- no official height has been set and completion isn’t expected until 2025 -- but the tower, at the centre of another $948 million project on the banks of Bangkok’s...

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